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Franklin County CDC Alan Singer - Lending Director 324 Wells Street Greenfield, MA 01301 Phone: (413) 774-7204 #105 Fax: PowerPoint Presentation
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Franklin County CDC Alan Singer - Lending Director 324 Wells Street Greenfield, MA 01301 Phone: (413) 774-7204 #105 Fax: (413) 773-3562 e-mail: Alans@fccdc.org URL : www.fccdc.org "The Franklin County CDC is an Equal Opportunity Provider".

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slide1
Franklin County CDC

Alan Singer - Lending Director

324 Wells Street

Greenfield, MA 01301

Phone: (413) 774-7204 #105

Fax: (413) 773-3562

e-mail: Alans@fccdc.org

URL: www.fccdc.org

"The Franklin County CDC is an Equal Opportunity Provider"

slide2

Access to Resources (money, time, people, land, equipment, knowledge) Yours & others

Use Technology to streamline operations.

Take it seriously

Plan

Network

Competitive advantageAdd Value

Know when to bail

PVGrows Farm & Food Entrepreneurship

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The Need For a Good Team

  • Manufacturers are capital intensive
  • Small businesses are inherently risky
  • Risk spreading is necessary and prudent
  • Work with a strong funding team to be sure your back is covered
know your funding team
Know Your Funding Team:

Are they in it for the long haul?

Is there a Mission fit amongst all of the funders for the deal?

Choose partners the Borrower’s Principal(s) will both understand and respect

Choose partners sharing similar

funding commitments

repayment structures

reporting requirements

Choose a mutually agreed upon contact person for the team

good funding team members

Take the time to understand the business model

  • Use direct employees (beware of outside consultants working on a deal-by-deal basis)
  • Are open to signing an intercreditoragreement
  • Have an agreed methodology for disseminating important communications
  • Can agree on a single point person to make quick decisions if a time-critical decision must be made
  • Consider team membership stability to be critical
Good FUNDING TEAM MEMBERS
team related issues

Avoid organizations that employ people on a consulting basis

Avoid organizations that are dealing outside of their stated mission

Avoid team members that don’t take the time to understand industry and business models

Avoid organizations that employ one capable employee without a back up

Avoid key funding time lines from funders unless they are capable of doing so

Avoid making key decisions outside of team meetings

TEAM-RELATED ISSUES
what is this you need to know this to understand manufacturer financing
What is This?(You need to know this to understand manufacturer financing)

ManufCompany, Inc. Cost of Goods Manufactured Schedule For the Year Ended December 31, 20X0

Direct materials used

  Beginning raw materials inventory 6,200

  Add: Cost of raw materials purchased 49,400

  Total raw materials available 55,600

  Less: Ending raw materials inventory (5,800)

    Total raw materials used 49,800

Direct labor 125,600

Manufacturing overhead

  Indirect materials 4,100

  Indirect labor 43,700

  Depreciation—factory building 9,500

  Depreciation—factory equipment 5,400

  Insurance—factory12,000

  Property taxes—factory 4,500

    Total manufacturing overhead 79,200

Total manufacturing costs 254,600

Add: Beginning work-in-process inventory 10,200

264,800

Less: Ending work-in-process inventory (9,800)

Cost of goods manufactured 255,000

keep up with the industry trends from recognized trusted independent and objective sources
Some suggestions:

“CFO Magazine”

“The Secured Lender”

Industry Trade Group Web-sites and Publications

Access the Database of your Nearest College or University Research Library

Most importantly – read up and stay informed.

Keep up with the industry trends from recognized, trusted, independent and objective sourceS